C4 Therapeutics, Inc.

EDGAR

Annual consolidated revenue for 2025: about USD 35.95M, using the latest reported figures. The previous period, 2024, was about USD 35.58M.

Watchlist

Latest quarter

Revenue

6.64 million USD

2026 Q2 · USD

Exact inputs and evidence

Operating margin

-397.88%

2026 Q2 · %

Exact inputs and evidence
  • Operating Income: -26423000 USD Source
  • Revenue: 6641000 USD Source

Operating cash flow

-1.57 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: -31518000 USD Source
  • Operating Cash Flow: -29944000 USD Source

Free cash flow

-1.61 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: -31518000 USD Source
  • Operating Cash Flow: -29944000 USD Source
  • Capital Expenditure: 101000 USD Source
  • Capital Expenditure: 64000 USD Source
Cash and cash equivalents
78.6 million USD Source
Exact value

78610000 USD

Long-term debt including current maturities
10.3 million USD Source
Exact value

10335000 USD

Shares outstanding
123 million shares Source
Exact value

122905756 shares

Reported share-count change

73.09% · 51.9 million shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 71007083 shares · 2025-06-30· Source
  • 122905756 shares · 2026-06-30· Source

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

35 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Revenue: 11230000 USD · 2025-07-01 – 2025-09-30 Source
  • Revenue: 35947000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 24931000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 6152000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 6641000 USD · 2026-04-01 – 2026-06-30 Source

Net income

-101 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Net income: -32166000 USD · 2025-07-01 – 2025-09-30 Source
  • Net income: -104994000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: -84508000 USD · 2025-01-01 – 2025-09-30 Source
  • Net income: -25129000 USD · 2026-01-01 – 2026-03-31 Source
  • Net income: -23635000 USD · 2026-04-01 – 2026-06-30 Source

Operating cash flow

-84.9 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Operating cash flow: -76549000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: -45342000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: -98694000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: -76549000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: -29944000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: -31518000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: -29944000 USD · 2026-01-01 – 2026-03-31 Source

Capital expenditure

523 thousand USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Capital expenditure: 596000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 185000 USD · 2025-01-01 – 2025-06-30 Source
  • Capital expenditure: 607000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 596000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 64000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 101000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 64000 USD · 2026-01-01 – 2026-03-31 Source

Free cash flow

-85.4 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Operating cash flow: -76549000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: -45342000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: -98694000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: -76549000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: -29944000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: -31518000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: -29944000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 596000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 185000 USD · 2025-01-01 – 2025-06-30 Source
  • Capital expenditure: 607000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 596000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 64000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 101000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 64000 USD · 2026-01-01 – 2026-03-31 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-08-11.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 5 of 11 periods available· newest 2025-12-31
  • Operating income: 7 of 11 periods available· newest 2025-12-31
  • Net income: 7 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 7 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 7 of 11 periods available· newest 2025-12-31
  • Total assets: 5 of 11 periods available· newest 2025-12-31
  • Total liabilities: 5 of 11 periods available· newest 2025-12-31
  • Current assets: 5 of 11 periods available· newest 2025-12-31
  • Current liabilities: 5 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 5 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 2 of 11 periods available· newest 2022-12-31
  • Shares outstanding: 5 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +1%

    Prior period

    USD 35.58 million

    –

    Current period

    USD 35.95 million

    –

    Exact inputs and evidence

    35947000 − 35584000 = 363000 USD

    35584000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    35947000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Net income

    +USD 322,000

    Prior period

    −USD 105.32 million

    –

    Current period

    −USD 104.99 million

    –

    Exact inputs and evidence

    -104994000 − -105316000 = 322000 USD

    -105316000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    -104994000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Operating cash flow

    −USD 33.54 million

    Prior period

    −USD 65.16 million

    –

    Current period

    −USD 98.69 million

    –

    Exact inputs and evidence

    -98694000 − -65157000 = -33537000 USD

    -65157000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    -98694000 USD · 2025-01-01 – 2025-12-31

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  • Capital expenditure

    +237.2%

    Prior period

    USD 180,000

    –

    Current period

    USD 607,000

    –

    Exact inputs and evidence

    607000 − 180000 = 427000 USD

    180000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    607000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 35.95 million 100% of revenue
  • Operating costs Derived USD 151.17 million 421% of revenue
  • Operating income −USD 115.22 million −321% of revenue
  • Tax, interest and other Derived −USD 10.23 million −28% of revenue
  • Net income −USD 104.99 million −292% of revenue

Cash

  • Operating cash flow −USD 98.69 million −275% of revenue
  • Capital expenditure USD 607,000 1.7% of revenue
  • Free cash flow Derived −USD 99.3 million −276% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2021 Operating loss: operating costs were 279% of revenue.
  • 2022 Operating loss: operating costs were 517% of revenue.
  • 2023 Operating loss: operating costs were 770% of revenue.
  • 2024 Operating loss: operating costs were 436% of revenue.
  • 2025 Operating loss: operating costs were 421% of revenue.
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2021 2021-01-01 – 2021-12-3145785000 127919000 Derived -82134000 1758000 Derived -83892000 -88242000 Derived
Source
2022 2022-01-01 – 2022-12-3131096000 160630000 Derived -129534000 -1359000 Derived -128175000 -111435000 Derived
Source
2023 2023-01-01 – 2023-12-3120756000 159787000 Derived -139031000 -6538000 Derived -132493000 -108546000 Derived
Source
2024 2024-01-01 – 2024-12-3135584000 155198000 Derived -119614000 -14298000 Derived -105316000 -65337000 Derived
Source
2025 2025-01-01 – 2025-12-3135947000 151169000 Derived -115222000 -10228000 Derived -104994000 -99301000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 35.9M 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.49.4M37.1M24.7M12.4M0.020212022202320242025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2021Revenue45785000
2022Revenue31096000
2023Revenue20756000
2024Revenue35584000
2025Revenue35947000

Revenue growth

Change in revenue from the same financial period one year earlier.

1% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.80%49%19%-11%-42%20212022202320242025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2021Year over yearNo prior comparable period
2022Year over year-32.1%
2023Year over year-33.3%
2024Year over year71.4%
2025Year over year1%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin -320.5% 2025
Net margin -292.1% 2025
Free cash flow margin -276.2% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.54%-141%-335%-529%-723%20212022202320242025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2021Operating margin-179.4%
2022Operating margin-416.6%
2023Operating margin-669.8%
2024Operating margin-336.1%
2025Operating margin-320.5%
2021Net margin-183.2%
2022Net margin-412.2%
2023Net margin-638.3%
2024Net margin-296%
2025Net margin-292.1%
2021Free cash flow margin-192.7%
2022Free cash flow margin-358.4%
2023Free cash flow margin-523%
2024Free cash flow margin-183.6%
2025Free cash flow margin-276.2%

Operating cash flow

Cash generated by the company’s normal business operations.

USD -98.7M 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.8.5M-22.4M-53.4M-84.4M-115.4M20212022202320242025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2021Operating cash flow-86965000
2022Operating cash flow-105939000
2023Operating cash flow-106838000
2024Operating cash flow-65157000
2025Operating cash flow-98694000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD -99.3M 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.8.9M-23.4M-55.7M-88.0M-120.3M20212022202320242025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2021Free cash flow-88242000
2022Free cash flow-111435000
2023Free cash flow-108546000
2024Free cash flow-65337000
2025Free cash flow-99301000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

28.5% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.41%31%21%10%0%20212022202320242025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2021Liabilities / assets23.1%
2022Liabilities / assets32.9%
2023Liabilities / assets34.6%
2024Liabilities / assets38.2%
2025Liabilities / assets28.5%

Current assets to current liabilities

Current assets divided by current liabilities.

7.81× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.8.44×6.33×4.22×2.11×0.00×20212022202320242025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2021Current assets / current liabilities6.36×
2022Current assets / current liabilities6.46×
2023Current assets / current liabilities6.34×
2024Current assets / current liabilities5.71×
2025Current assets / current liabilities7.81×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2019 2019-01-01 – 2019-12-31
−USD 34.1 million
Exact value

Exact value: -34099000 USD

2019-01-01 – 2019-12-31: -34099000 USD Inspect Net Income Open source
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USD 55.61 million
Exact value

Exact value: 55614000 USD

2019-01-01 – 2019-12-31: 55614000 USD Inspect Operating Cash Flow Open source
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USD 1.35 million
Exact value

Exact value: 1349000 USD

2019-01-01 – 2019-12-31: 1349000 USD Inspect Capital Expenditure Open source
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USD 54.27 million
Calculation and evidence

55614000 − 1349000 USD

Exact free cash flow: 54265000 USD

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2020 2020-01-01 – 2020-12-31
−USD 66.34 million
Exact value

Exact value: -66335000 USD

2020-01-01 – 2020-12-31: -66335000 USD Inspect Net Income Open source
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−USD 67.25 million
Exact value

Exact value: -67249000 USD

2020-01-01 – 2020-12-31: -67249000 USD Inspect Operating Cash Flow Open source
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USD 650,000
Exact value

Exact value: 650000 USD

2020-01-01 – 2020-12-31: 650000 USD Inspect Capital Expenditure Open source
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−USD 67.9 million
Calculation and evidence

-67249000 − 650000 USD

Exact free cash flow: -67899000 USD

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2021 2021-01-01 – 2021-12-31
−USD 83.89 million
Exact value

Exact value: -83892000 USD

2021-01-01 – 2021-12-31: -83892000 USD Inspect Net Income Open source
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−USD 86.97 million
Exact value

Exact value: -86965000 USD

2021-01-01 – 2021-12-31: -86965000 USD Inspect Operating Cash Flow Open source
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USD 1.28 million
Exact value

Exact value: 1277000 USD

2021-01-01 – 2021-12-31: 1277000 USD Inspect Capital Expenditure Open source
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−USD 88.24 million
Calculation and evidence

-86965000 − 1277000 USD

Exact free cash flow: -88242000 USD

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2022 2022-01-01 – 2022-12-31
−USD 128.18 million
Exact value

Exact value: -128175000 USD

2022-01-01 – 2022-12-31: -128175000 USD Inspect Net Income Open source
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−USD 105.94 million
Exact value

Exact value: -105939000 USD

2022-01-01 – 2022-12-31: -105939000 USD Inspect Operating Cash Flow Open source
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USD 5.5 million
Exact value

Exact value: 5496000 USD

2022-01-01 – 2022-12-31: 5496000 USD Inspect Capital Expenditure Open source
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−USD 111.44 million
Calculation and evidence

-105939000 − 5496000 USD

Exact free cash flow: -111435000 USD

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2023 2023-01-01 – 2023-12-31
−USD 132.49 million
Exact value

Exact value: -132493000 USD

2023-01-01 – 2023-12-31: -132493000 USD Inspect Net Income Open source
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−USD 106.84 million
Exact value

Exact value: -106838000 USD

2023-01-01 – 2023-12-31: -106838000 USD Inspect Operating Cash Flow Open source
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USD 1.71 million
Exact value

Exact value: 1708000 USD

2023-01-01 – 2023-12-31: 1708000 USD Inspect Capital Expenditure Open source
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−USD 108.55 million
Calculation and evidence

-106838000 − 1708000 USD

Exact free cash flow: -108546000 USD

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2024 2024-01-01 – 2024-12-31
−USD 105.32 million
Exact value

Exact value: -105316000 USD

2024-01-01 – 2024-12-31: -105316000 USD Inspect Net Income Open source
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−USD 65.16 million
Exact value

Exact value: -65157000 USD

2024-01-01 – 2024-12-31: -65157000 USD Inspect Operating Cash Flow Open source
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USD 180,000
Exact value

Exact value: 180000 USD

2024-01-01 – 2024-12-31: 180000 USD Inspect Capital Expenditure Open source
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−USD 65.34 million
Calculation and evidence

-65157000 − 180000 USD

Exact free cash flow: -65337000 USD

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2025 2025-01-01 – 2025-12-31
−USD 104.99 million
Exact value

Exact value: -104994000 USD

2025-01-01 – 2025-12-31: -104994000 USD Inspect Net Income Open source
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−USD 98.69 million
Exact value

Exact value: -98694000 USD

2025-01-01 – 2025-12-31: -98694000 USD Inspect Operating Cash Flow Open source
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USD 607,000
Exact value

Exact value: 607000 USD

2025-01-01 – 2025-12-31: 607000 USD Inspect Capital Expenditure Open source
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−USD 99.3 million
Calculation and evidence

-98694000 − 607000 USD

Exact free cash flow: -99301000 USD

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

48 filings · 1,841 latest values · 1,841 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001662579, 1662579, CCCC, edgar:1662579

Also known as C4 THERAPEUTICS, INC., C4 Therapeutics, Inc.